Trade MKR/USD
Maker / US Dollar
The governance token behind MakerDAO, one of the oldest and most significant DeFi protocols on Ethereum, responsible for issuing the DAI stablecoin.
Specifications
About Maker (MKR/USD)
MakerDAO is the decentralized protocol behind DAI, a stablecoin soft-pegged to the US dollar and backed by crypto collateral locked in smart contracts called Vaults. MKR holders govern the system by voting on risk parameters, collateral types, and stability fees. When the system takes losses, MKR can be minted and sold to recapitalise the protocol, diluting existing holders. This risk-reward structure ties MKR's value closely to the health and governance of the DAI ecosystem.
Key Price Drivers
- DAI circulation growth signalling more collateral in Vaults and higher stability fee revenue
- MKR governance votes on collateral types, fee rates, and protocol direction
- Real-world asset integration (US Treasury bills) diversifying revenue beyond crypto
- Vault liquidation events during sharp market drops testing protocol solvency
Peak Trading Hours
DeFi protocol tokens trade around the clock as CFDs on StoicFX MT5. Volume tends to peak alongside the US session, when TVL shifts and protocol governance activity are most concentrated.
US and European business hours (13:00-21:00 UTC)
Smart contract exploits, governance proposals, and liquidity migration events can cause sudden price moves at any hour. Available on MT5 from Monday 00:00 to Friday 23:59 UTC.
How to Trade MKRUSD on StoicFX
Open an Account
Register for a live or demo account in minutes.
Fund Your Account
Deposit via bank transfer, card, crypto, or e-wallet.
Find MKRUSD in MT5
Open MetaTrader 5, search for MKRUSD in Market Watch, and add it to your chart.
Place Your Trade
Set your lot size, stop loss, and take profit, then execute your order.
FAQ
What is DAI and how does it relate to MKR?
DAI is a decentralized stablecoin pegged to the US dollar, generated when users lock crypto collateral into MakerDAO Vaults. MKR is the governance token that controls the protocol's parameters. When the system runs a surplus, MKR can be bought back and burned. When it runs a deficit, new MKR is minted to cover the gap.
Why does MKR have a relatively low token supply?
MKR was designed with a supply of around one million tokens. The protocol periodically uses surplus revenue to buy MKR on the open market and burn it, reducing supply over time. This deflationary mechanism is one reason MKR tends to trade at a higher unit price than most DeFi tokens.
What is the Sky rebrand and how does it affect MKR?
MakerDAO announced a rebranding to Sky, introducing new tokens (SKY and USDS) as part of a broader restructuring called the Endgame Plan. MKR holders can convert tokens at a fixed ratio. The rebrand aims to make the protocol more accessible, but the transition has introduced uncertainty around tokenomics and governance structure.
Does holding MKR/USD on StoicFX give me governance voting rights?
No. MKR/USD on StoicFX is a CFD. You gain price exposure to MKR without owning any tokens, so you cannot participate in MakerDAO governance votes or receive any protocol distributions.
Start Trading MKR/USD
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CFDs are complex instruments and carry a high risk of rapid capital loss due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.